Would you like to learn proven strategies to take your success and journey to the next level? The host of The Deep Wealth Podcast and post-exit entrepreneur Jeffrey Feldberg spoke with a fellow 9-figure exit entrepreneur (multiple times) Lee Benson. Lee is, founder and CEO of Execute2Win (ETW), a mastermind of success in both business and music. Lee isn’t just a businessman; he’s an entrepreneur with a nine-figure exit under his belt. That’s right, folks! Nine figures! So, what makes Lee tick, and how can you capture some of his magic?
The 43-Year Overnight Success Story
Lee Benson calls his journey his “43-year overnight success story.” Now, ain’t that something? You see, Lee didn’t just stumble upon success overnight. No, sir. He started eight companies from scratch and reached where he is through sheer grit and determination. He mentions, “I feel like I’m barely getting started,” even though he’s achieved so much at 63. Now, that’s the spirit!
Lee began his career journey working in electroplating during the day and rocking out in clubs with his band at night. That’s right, from managing a stage crew to becoming a successful businessman, Lee’s life is a symphony of hard work and creativity.
From the Music Stage to the Business Stage
“Was playing in a band like running a business?” Jeffrey asks. Lee’s response is a clear yes. He shares how band dynamics taught him about teamwork and creating value. It’s all about hitting the right notes, whether you’re on stage with a band or in a boardroom meeting. Both require creativity and excellent teamwork. “Getting that mix right in the band has everything to do with whether you create the right product.”
Interestingly, Lee draws parallels between being in a band and running a business. “You have to be super creative,” says Lee. In both music and business, the team must work together seamlessly. Building a strong team in business, just like in a band, requires the right mix of personalities and skills. This synergy can lead to high performance and success, whether on the business stage or the music stage.
The MIND Management System: A Path to Alignment
Alignment is crucial in any business, and Lee came up with the MIND management system to make sure everyone’s on the same page. MIND stands for Most Important Number and Drivers. With this approach, teams can focus on the numbers that matter and drive valuable actions in the right direction. It’s not just about picking any number; it’s about finding what reflects the company’s true value.
Lee introduces a powerful idea: the MIND methodology. This isn’t just another fancy term; it stands for “Most Important Number and Drivers.” His goal? Align everyone in a company to drive value. As Lee explains, “What’s the one number that’s most reflective of the value of your business and will drive the majority of the right behaviors?” This approach helps in knowing whether a team’s on track and what actions they should take.
In the realm of business, alignment is key, as Lee emphasizes in his book “Your Most Important Number.” Lee believes that many entrepreneurs often miss the mark when it comes to aligning their teams. “Most entrepreneurs don’t put the energy into alignment,” says Lee. He highlights that a successful business leader should ensure that every team member is aligned to maximize the company’s value.
Lee Benson’s MIND management system focuses on simplifying business leadership. “What’s the one number that’s most reflective of the value of your business and will drive the majority of the right behaviors?” he challenges. Identifying this number allows businesses to focus efforts and measure success more effectively. Lee adds, “It’s about creating a culture of holistic value creation.”
Lee shares that the secret to his successful exit from Able Aerospace was creating holistic value. He insists that businesses should aim to make not selling just as attractive as selling, a perspective that led to a 21.6x multiple of EBITDA in his sale. “Think about creating holistic value—material, emotional, and spiritual,” he advises.
Lessons on Leadership and Culture
“Why Sometimes CEOs Fail,” is a topic Lee feels passionately about. It’s not about luck, folks; it’s about understanding the business model, strategy, and culture. If those areas are out of whack, even the best CEO can struggle. Lee emphasizes culture when he says, “It’s like expensive wallpaper. If it’s not applied correctly, it won’t bring any real value.”
Leadership is paramount. That’s why Lee developed a surgical approach to leadership development, making sure each leader knows exactly where they need to improve to create more value.
Success in business starts with strong leadership. As Lee mentioned, “What are the one, two, or three things at any point in time that we’re doing to increase the value of the business?” It’s about understanding business models, strategy, and culture, not just the surface level tasks. It’s all about alignment, knowing where to focus energies for maximum impact.
Lee warns us not to let culture be just “expensive wallpaper.” Real culture is felt, and it turns into measurable actions within a company. He notes, “What are the behaviors that cause the most value to be created and get everybody’s input on that.” A strong culture ensures everyone knows their role and how to contribute to the company’s success.
Lee’s own fulfillment isn’t fueled by money alone but by holistic value creation. He shares, “I’m more fulfilled today than I’ve ever been in my entire life.” His focus on spiritual, emotional, and physical aspects of life shows a balanced view to achieving true success.
Spiritual, Emotional, and Material Value
Benson believes in holistic value creation: material, emotional, and spiritual. Sure, money is important. But without the other two values, true success feels empty. Lee’s advice? “Be your best when you’re at your worst.” Now, that’s something that sticks!
For him, spiritual value is all about connectedness. It’s not about religion; it’s about being connected to yourself, your team, and your community.
For all you budding entrepreneurs out there, Lee’s journey offers valuable lessons. Struggle is part of the process. It’s like Lee says, “Intentional struggle leads to growth.” Find joy in learning and growing, and remember, your present is all you have. So make the most of it!
Lee offers advice to young entrepreneurs: focus not just on profits but on character and skills. He prompts us to ask, “What capability and character traits would you like to have?” Starting on these today sets the foundation for future success.
Lee stresses the importance of balance within business leadership. At Able Aerospace, Lee prioritized both physical and emotional health for his team. Building facilities like gym spaces showed employees that their well-being mattered just as much as their work output. This holistic approach not only helped in retention but also enhanced productivity.
When Lee talks about spiritual value, he refers to the connectedness within a team. “It’s about connectedness,” he explains, highlighting the importance of team collaboration. While people often lose sight of spiritual value, Lee believes it significantly boosts productive engagement and makes a business thrive.
Lee discusses holistic value creation in three buckets: material, emotional energy, and spiritual. In business, focus on creating value across all three to not only grow profits but also contribute positively to the world.
Final Thoughts
Lee Benson is a powerhouse of inspiration and wisdom. Through his innovative strategies and heartfelt leadership, he continues to make the business world a better place. Whether you’re a seasoned entrepreneur or just starting out, there’s plenty to learn from Lee’s journey and insights.
To those just starting out, Lee offers a nugget of wisdom: embrace the struggle. “Whenever you’re struggling, learn to value that,” he says. Struggles build confidence and help you intentionally create value. Lee encourages entrepreneurs to enjoy the current moment, sharing the mantra, “All you ever have is what you’re doing right now.”
Struggles aren’t setbacks but valuable lessons. Lee says, “When all that’s going on, I can’t be present and super creative.” Overcoming these challenges makes you a better leader and a stronger person.
In a nutshell, the conversation with Lee Benson isn’t just a business chat—it’s a guide to deeper understanding and smarter actions in our own lives and businesses.
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